LOS ANGELES (AP) _ Houlihan Lokey Inc. (HLI) on Tuesday reported fiscal fourth-quarter profit of $99.4 million.

On a per-share basis, the Los Angeles-based company said it had net income of $1.44. Earnings, adjusted for non-recurring costs, were $1.51 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The investment banking company posted revenue of $500.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $359.4 million.

For the year, the company reported profit of $312.8 million, or $4.55 per share. Revenue was reported as $1.53 billion.

Houlihan Lokey shares have dropped 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $65.89, an increase of almost 6% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLI at https://www.zacks.com/ap/HLI

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